Terravita Apartments 3909-3949 N Nellis Blvd 100 Unit Apartment Building $23,285,069 CAD ($232,851 CAD/Unit) 6.50% Cap Rate Las Vegas, NV 89115

Terravita Apartments is a 100-unit multi family complex that includes a mix of renovated Sixteen (16) one-bedroom / one-bathroom apartments and Eighty-Four (84) Two-Bedroom / Two Bathroom apartments. The property is located in the Sunrise Manor sector of Las Vegas which is a dynamic affordable segment with Nellis Frontage and in close proximity to shopping and nearby schools. The project consists of Six (6) two story buildings sitting on 3.61 acres with gated entrances to the complex.
The property also offers potential buyers with multiple exit strategies as each of the 100 units comes with its own parcel number so the complex can easily be converted to a condominium project or managed as an apartment complex. The units range in size from 555 Sq Ft - 770 Sq Ft for the 1 bed - 1 bath units to 906 sq ft - 1,005 for the 2 bed - 2 bath units. Seventy -Three (73) of the 2 bed - 2 bath units are oversized at 1,005 Sq Ft.
The complex has a swimming pool and barbeque area for the tenants with each unit having its own washer and dryer, dishwasher, walk in closets, balcony area, ceiling fans and much more.